COMMERCE: President Biden’s Fiscal Year 2024 Budget Would Bolster Key Commerce Department Initiatives

Thursday, March 9, 2023

Proposed Budget Supports Department of Commerce’s Mission of Making America More Competitive

Today, the Biden-Harris Administration submitted to Congress the President’s Budget for fiscal year 2024. President Biden’s 2024 Budget for the Department of Commerce makes historic investments to drive U.S. innovation and global competitiveness, foster inclusive capitalism and equitable economic growth, address the climate crisis, and expand opportunity and discovery through data.

In particular, this budget requests $12.3 billion in discretionary funding and $4 billion in mandatory funding to support key Commerce Department priorities. This budget complements ongoing investments in expanding high-speed Internet access and addressing climate change, provided by the Bipartisan Infrastructure Law and the Inflation Reduction Act, as well as investments to revitalize the domestic semiconductor industry, provided by the CHIPS and Science Act of 2022.

“President Biden’s budget makes targeted, strategic investments that will position America’s workers and businesses to succeed in the 21st century,” said U.S. Secretary of Commerce Gina Raimondo. “In addition to building on the critical investments in the Internet for All and climate resiliency programs, included in the Bipartisan Infrastructure Law and Inflation Reduction Act, these investments will bolster manufacturing and supply chains, create more good-paying jobs, and revitalize communities across the country.”

“These new investments will help continue the wide breadth of the Commerce Department’s work under our overarching goals of driving innovation and ensuring equity and resilience,” said U.S. Deputy Secretary of Commerce Don Graves. “Whether we’re advancing national security objectives with export control enforcement at the Bureau of Industry and Security, tackling climate change at the National Oceanic and Atmospheric Administration, or driving growth in historically underserved communities at the Economic Development Administration and Minority Business Development Agency, this budget will enable the entire Commerce Department to meet our mission of boosting America’s competitiveness.”

The Budget makes critical investments that will help the Commerce Department create the conditions for economic growth and opportunity for all communities. Specifically, the Budget would:

  • Expand Domestic Manufacturing and Build Resilient Supply Chains: To help ensure the strength of our supply chains, the Budget includes $277 million for the National Institute of Standards and Technology’s (NIST’s) Manufacturing Extension Partnership (MEP). MEP is a public-private partnership with centers in every state that helps advise small and medium-sized businesses in order to narrow gaps in our supply chains, develop a skilled and diverse workforce, and make our manufacturing sector more resilient. The Budget also includes $98 million for NIST’s Manufacturing USA program, and $21 million to establish a Supply Chain Resiliency Office within the International Trade Administration (ITA). The funding provided for Manufacturing USA will also finance $60 million in new competitive awards to enable existing Manufacturing USA institutes to promote domestic production of technologies developed at the institutes.
  • Protect U.S. Technologies, Capital, and Expertise: As Commerce continues to support the Administration’s national security priorities, including by hobbling Russia’s military and defense industrial base through export controls and working to address the national security threats posed by China, the Budget includes funding for the Bureau of Industry and Security (BIS) and the International Trade Administration (ITA) to advance U.S. national security, foreign policy, and economic interests. The Budget includes $6 million ($3 million at BIS and $3 million at ITA) to support Committee on Foreign Investment in the United States (CFIUS) examinations. The Administration is also considering the establishment of a program to address national security risks associated with outbound investments, which would prevent U.S. capital and expertise from financing advances in critical sectors that undermine U.S. national security while not placing an undue burden on U.S. investors and businesses. The Budget includes $5 million to enable ITA to assist the Department of Treasury in scoping and implementing such a program.
  • Work with Our Allies to Advance Our Shared Values and Expand TradeIn order to reaffirm U.S. economic engagement in the Indo-Pacific region, the Budget includes $3 million to support ITA’s engagement with 13 Indo-Pacific Economic Framework for Prosperity (IPEF) partners, enabling ITA to reaffirm relationships and establish an economic framework that benefits U.S. workers and businesses, while improving our economic and national security. The Budget includes $420 million for ITA’s Global Markets, which includes an additional $17 million to support U.S. export competitiveness and enhance the U.S.’ ability to counter unfair trade practices and economic coercion by China.
  • Foster Inclusive Capitalism and Equitable Economic Growth: To grow regional economies, create high-quality jobs across the Nation, and support a skilled, diverse workforce, the Budget requests $4 billion in mandatory funding and $804 million in discretionary funding in the Economic Development Administration (EDA). This includes $4 billion in mandatory funds and $50 million in discretionary funds for EDA’s Regional Technology and Innovation Hub Program. This funding will enable EDA to establish cutting-edge and strategic regional technology and innovation hubs that foster geographic diversity in innovation and create high quality jobs in underserved and vulnerable communities. The Budget also requests $100 million for the Good Jobs Challenge to fund employer-led workforce training systems and partnerships to train and place American workers into high-quality jobs and support regional economies. The Budget further requests $200 million for the Recompete Pilot Program to provide grants to distressed communities and connect workers to good jobs that support long-term comprehensive economic development. The Budget also makes investments within EDA to establish a new $20 million grant program focused exclusively on the economic development needs of tribal governments and indigenous communities. Outside of EDA, the Budget invests $110 million in the Minority Business Development Agency, $40 million more than the FY 2023 level. This will bolster services provided to minority-owned enterprises to help narrow racial wealth gaps.
  • Address the Climate Crisis through Mitigation, Adaptation, and Resilience Efforts: To complement investments in climate resilience, provided by the Bipartisan Infrastructure Law and the Inflation Reduction Act, the Budget includes $6.8 billion for the National Oceanic and Atmospheric Administration (NOAA), $451 million more than the FY 2023 levels. This includes $2.1 billion for the nation’s weather and climate satellites, $370 million above the FY 2023 enacted level. The Budget further invests in NOAA’s weather and climate enterprise by funding the National Weather Service (NWS) at $1.3 billion and provides $231 million for NOAA’s climate research programs to support the ongoing work of the National Climate Assessment and continue high-priority long-term observing, monitoring, researching, and modeling activities. The Budget also invests $60 million to expand offshore wind permitting activities, a $39 million increase above the 2023 enacted level. This will allow NOAA to use the best available science to help meet the goal of deploying 30 gigawatts of offshore energy by 2030 while protecting biodiversity and promoting sustainable ocean co-use. It also provides $87 million to support National Marine Sanctuaries and Marine Protected Areas. Outside of NOAA, and $97.5 million for NIST’s activities on Climate Change and Environmental Sustainability, including a $3.5 million increase for NIST’s efforts in greenhouse gas (GHG) measurement and monitoring.
  • Expand Opportunity and Discovery through Data and Research: The Budget provides $1.6 billion for the Census Bureau, including $408.9 million for the 2030 Census’ preparation, $259.9 million for the American Community Survey, and $152 million for the Economic Census.  The Budget also includes $14 million to create an Incumbent Informing Capability (IIC) in the National Telecommunications and Information Administration (NTIA) to improve spectrum sharing, thereby allowing more efficient use of the spectrum and expanding access to spectrum for both Federal and non-Federal users. Additionally, the Budget includes $6.6 million to establish a Spectrum Innovation Research Incubator , which will proactively study and assess spectrum.
  • Provide 21st Century Service with 21st Century Capabilities: The Budget invests nearly $500 million in fundamental research infrastructure at NIST, NOAA, and NTIA, including $262 million for NIST Safety, Capacity, Maintenance, and Majors Repairs, more than double the FY 2023 enacted level; $145.7 million for NOAA to address deferred maintenance and other construction requirements; and $75 million for the continued recapitalization of NOAA’s aging marine fleet. The Budget also includes $20 million for NTIA to conduct appropriate oversight of grants funded by the Bipartisan Infrastructure Law, which provided $50 billion to expand broadband access and connectivity through multiple grant programs. This will enable NTIA to continue appropriate oversight of these programs in FY 2024.

For more information on the President’s FY 2024 Budget, please visit:



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Aggregated FY24 President’s Budget Request